Dubai house prices will decline sharply this year and next, according to propert...
BENGALURU - Dubai house prices will decline sharply this year and next, according to property market experts in a Reuters poll, who said a slowdown in the economy and an oversupply of housing units are big downside risks to their already weak outlook.
That downward trend is likely to continue in Dubai housing market activity, one of the primary contributors to its gross domestic product. Last year, Dubai’s economy grew just 1.94%, the slowest since the 2009 financial crisis, hurt by a rough patch amid a downturn in its real estate market. “There have been record numbers of off-plan projects since 2017 that were met by very successful sales campaigns promising very attractive payment plans for investors that run post-handover for a number of years, which has impacted the capital values of existing properties in Dubai,” he added.
“Overall, price declines have been healthy for Dubai as prices were inflated,” said Lynnette Abad, director of research and data for the Propertyfinder group.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Oil prices slip after surprise build in U.S. inventoriesOil prices fell on Thursday, giving up some of the strong gains of the previous ...
Leer más »
Yuan to weaken further as U.S. and China dig in on trade war: Reuters pollChinese authorities will maintain their tight grip on the yuan and allow it to w...
Leer más »
High-yield EM currencies to pare this year's losses in 12 months: Reuters pollHigh-yield emerging market currencies will probably pare this year's losses...
Leer más »
Latam FX to remain weak on loose monetary policy, Argentina fears: Reuters pollLatin America's top currencies are poised to remain weak in coming months a...
Leer más »
ECB back to easing again, but inflation still not in its grip: Reuters pollThe European Central Bank will cut its deposit rate next week and announce a res...
Leer más »